BoC Rate Cut & More to Come?
The Bank of Canada has cut its rate to 4.50%, down from 5.00%. Governor Tiff Macklem hints at more cuts if inflation continues to ease.



Key Updates
  • New benchmark rate: 4.50%
  • Expected prime rate: 6.70%
  • Updated GDP forecast for 2024: 1.2% (down from 1.5%)
  • Inflation forecast for 2024: 2.6%


Economic Outlook
The BoC projects slower GDP growth but expects inflation to hit 2% by 2026. The latest data shows shelter costs and mortgage interest rates remain high, but the overall inflation outlook is improving.

Future Rate Cuts

Economists anticipate more rate cuts, possibly as soon as September. With three more policy meetings in 2024, the BoC is set on easing rates further.

Alexander Gasenko - your trusted Toronto & GTA mortgage broker. Dominion Lending Centres Maple Mortgage Group Independently Owned & Operated — FSRA# 13415

Sign up with

your email address

to receive news

and updates.

Subscribe
Wednesday, January 3
Fixed VS Variable Rates Understanding Mortgages
Are you considering a fixed or variable rate mortgage in Canada? Let's compare the two options:
Tuesday, January 2
Understanding the Mortgage Application Process
Embarking on your homebuying journey? Familiarizing yourself with the mortgage application process is essential for a smooth experience. Let's break it down into simple steps:
Tuesday, December 26
Why Is Credit Score Important?
A strong credit score is a powerful tool in your financial toolbox. When it comes to securing a mortgage, your credit score can make all the difference. Here's why a good credit score matters:
Made on
Tilda